5/24/12, "More than 30% of US homeowners with mortgages are underwater," globalpost.com, S. Stainburn
"Real estate website Zillow reports that the percentage of US homeowners with mortgages who owe more than their homes are worth was 31.4 percent in the first quarter, according to CNN. That’s an improvement from a year ago, when 32.4 percent of all borrowers were underwater, but slightly more underwater borrowers than three months earlier.
In some states the percentage of underwater borrowers is significantly higher than the national average, including
- Arizona (52 percent),
- Georgia (46.8 percent),
- Florida (46.3 percent) and
- Michigan (41.7 percent),
While home prices have started to inch up again, delays in the processing of foreclosures means many delinquent borrowers are still on the books, keeping the underwater homeowner percentages high, Zillow said, according to CNN."...via Mark Levin show